Property In Bulgaria Ltd offers the entire investment service. Our mortgage offers are particularly attractive, and our legal experts will make sure that you get a package suited to your needs. We offer both Bulgarian and UK based mortgages and we are happy to answer queries you may have.

Mortgage Rates | Commissions and Fees | More Information


	Bank’s Arrangement fee - 2% of loan upon signing and 0.5% annual charge	For completely constructed properties: Upfront fee for preliminary approval – 20 EUR Upfront fee – 0.25% of the credit applied for Handling fee – 1% of the credit disbursed Annual management fee – 0.50% for each year of loan’s term For properties under construction disbursed by stages: Upfront fee – 0.25% of the credit applied for Handling fee – 1.5% of the credit disbursed Engagement fee – 1% of the amount of the non disbursed principal for the time of total providing. Annual management fee – 0.50% for each year of loan’s term For partial or full prepayment both completely constructed and under construction - 3% of the prepaid installments during the first 3 years, 1% for the outstanding redemption period. Account servicing fee both completely constructed and under construction - 10 EUR monthly. Market valuation fee both completely constructed and under construction - 150 EUR one time paid. Reconsideration terms fee - 0.50%
	Bank’s Legal Fee - EUR 50
	Valuation fees - N/A
	Penalty interest rate (in case of overdue payments - Interest rate agreed + 20 points
	Redemption penalties - 5%
	Application Fee - EUR 50
	Management fee - 2%
	Commitment fee - 0.5%
	Renegotiation fee - 1.5%
	Applicant’s income 1.50 time of the monthly instalments Minimum remaining income per member of the household: - 500.00 EUR for adults - 250.00 EUR for children

MORTGAGE RATES OF THE BANKS WE ARE WORKING WITH
	First Investment Bank	EI Bank (Economic Investment Bank)
Max Loan value:	- up to 80% of the market value of the mortgaged property - up to 70% of the market value of the mortgaged property with sign ACT 15	75%
Interest Rate	- from 6.9% - more than 30% down payment - from 8.4% - from 20% to 30% down payment	- 6.75% with credit report - 8.75% without credit report
Term	20 years maximum	20 years maximum
Loan amounts	Unlimited	max 200 000 EUR
Available to	Any foreign citizen	- Individuals without Bulgarian citizenship - Individuals with Bulgarian citizenship and permanent residence abroad
Repayment method	Equal monthly instalments during the whole loan term, after interest-only period	Monthly annuity payments

First Investment Bank

Every able local or foreign citizen is considered an eligible borrower. However, if the acquired property is a plot, a local citizen should acquire a property. There are no limits concerning the maximum loan amount. The maximum term is 240 months with a loan purpose - acquisition of a real estate. Up to 80% of the market value of the mortgaged property can be financed.
There is an option of a period when the borrower pays only interest which may be up to 12, 24 or 36 months. After it equal monthly installments during the loan term are paid. In case of overdue payments the bank charges a penalty interest rate which is the the interest rate agreed plus 20 points. The utilization is according to utilization plan. The application fee is Eur 50 and the management fee is 2%. There is also an early repayment charge from 2% to 5% as well as a commitment fee - 0.5% and a renegotiation fee - 1.5%. You can read more on the fees and charges on their website. The applicant's income should be 1.50 times the monthly installments. The minimum income that should remain per member of the household is 500 Eur for adults and 250 Eur for children.
The bank offers a life insurance option, which is paid by the borrower and property insurance.

Required Documents

Credit history documents (Experian Scorex, Equifax) - for citizens of the United Kingdom
Required documents for the income of the applicant / joint applicant:
For applicants / joint applicants working under labour contracts:
1. Form P-60 (required).
2. Letter from the Employer establishing the net income of the applicant / joint applicant (advisable).
3. Account statement for the last three months evidencing the declared incomes.
4. Other documents required by the Bank.

For applicants / joints applicants who work as freelancers or owners of companies:
1. Letter from an accountant establishing the net income for the last year or an Income Statement.
2. Account statement for bank account evidencing the declared incomes.
3. Other documents required by the Bank.

For applicants / joints applicants who receive rental income:
1. Account statement for the last three months evidencing the declared incomes.
2. Rental contract, if the income is not included in the annual Tax returns.

Applicants who are not citizens of the United Kingdom are expected to provide documents corresponding to those listed for UK citizens.
The term for approving the application is usually up to 2 days.

First Investment Bank

Required Documents

Applicants who are not citizens of the United Kingdom are expected to provide documents corresponding to those listed for UK citizens.
The term for approving the application is usually up to 2 days.

Economic Investment Bank (EIBank)
Loan to Value Amount
75%, max 200 000 EUR

Payment period
Up to 20 years

Collateral
Mortgage (legal or/and contractual) on:
The property subject to the deal, completely built and provided with Use Permission or on "rough construction" phase;

The Construction Right and the future property, when the credited project has not reached the relevant degree of completeness;
Any property on the territory of Republic of Bulgaria, owned by the credit applicant, provided absence of encumbrances.

6.75% with credit report
8.75% without credit report

Disbursement

As lump sum - on purchasing completely constructed and Use Permission provided properties.
By Stages - on purchasing off-plan properties without degree of completion fulfilled according to the formal agreements.

For completely constructed properties:
Upfront fee for preliminary approval – 20 EUR
Upfront fee – 0.25% of the credit applied for
Handling fee – 1% of the credit disbursed
Annual management fee – 0.50% for each year of loan’s term
For properties under construction disbursed by stages:
Upfront fee – 0.25% of the credit applied for
Handling fee – 1.5% of the credit disbursed
Engagement fee – 1% of the amount of the non disbursed principal for the time of total providing.
Annual management fee – 0.50% for each year of loan’s term
For partial or full prepayment both completely constructed and under construction 3% of the prepaid installments during the first 3 years, 1% for the outstanding redemption period.
Account servicing fee both completely constructed and under construction 10 EUR monthly.
Market valuation fee both completely constructed and under construction 150 EUR one time paid.
Reconsideration terms fee 0.50

Who can apply?

Individuals without Bulgarian citizenship
Individuals with Bulgarian citizenship and permanent residence abroad

The credit; applicants shall complete/The Attorney shall submit credit application filled by the credit applicant as per Bank sample,
credit credit reference document providing information for credit history, status and scorlog, as well as initial assessment
fee pursuant to the amount accepted by the Bank. The information exchange can be executed by the means of web-based format or via
e-mail where as original documentary submission at this stage is not required.

Within 2 business days upon receiving the documents set up above the Bank shall analyse the information provided with regards to credit
applicant income (required annual earning amount min. 20,000 EUR) and shall make preliminary decision for credit granting or refusal duty notifying
the credit applicant/the Attorney via e-mail.

Provided mortgage credit application The Bank requires submission of the following documents for credit analysing:
1. original document, issued by credit reference manager/office acknowledging finansual status, credit history, credit applicant scoring, including customer
current account bank statements, wage slips, P-60 form, employment contact or other income documents;
2. certified copy of identification document;
3. power of Attorney as per Bank sample issued in favor of domestic entity, to be notary certified in Bulgaria or abroad, respectively translated/legalized or certified
by means of apostil;
4. certified declaration for civil and property status of the credit applicant pursuant to bank sample;
5. preliminary sale-and-purchase agreement signed by the customer or by the attorney consisting of property description and credit deal parameters;
6. other documents required for the reasons of credit assessment, local analysis of the existing collateral and the astimation of the property market value according to
the tarnsaction specificity.

When the contract is to be completed by co-borrowers, each of the credit applicants shall submit the income evidence documents required by the Bank along with the
relevant credit reference score.

The Bank shall be entitled to reqesting on demand additional documents related to the legal status of credit applicant, property seller or the property subject the the
sale-and-purchase deal upon existance of circumstances requiring additional investigation on the credit application. Upon discrepancies encountered with regards to the data submitted in
advance, the Bank shell be entitled to reject assessment of the mortgage credit application

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Mortgage Rates | Commissions and Fees | More Information